As the Brooklyn Eagle noted earlier this week, demolition has begun at the Albee Square parking garage, site of the future 650-unit residential tower that will be brought to you by the nice folks at Acadia Realty Trust; when we stopped by yesterday, we saw the digger doing its thing on the roof (inset). As you may recall, Acadia bought the property from Thor Equities early last summer for $120 million. At the time, the building (rendered at right) was rumored to come in at somewhere between 40 and 60 stories. It’s also slated to have at least 475,000 square feet of retail space and 125,000 square feet of Class A office space. Think there will be adequate demand for the latter?
Demolition Work Begins at Albee Square Mall [Brooklyn Eagle] GMAP
Albee Square Deal Closes, Fewer Apartments Planned [Brownstoner]